An Overview of Discovery FX’s Market
Discovery FX, established in 2018 and registered in Hong Kong, primarily offers trading in Spot Rolling FX and Precious Metals. However, the broker operates without any regulatory oversight, raising significant concerns for potential investors. Its trading platform options include both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), providing users with a flexible trading experience. Discovery FX supports two account types: a Standard account and a Nano Spread account, with a minimum deposit requirement of $200. Notably, the firm offers high leverage of up to 1:1000, but traders should exercise caution given the lack of regulation and potential risks involved.
Trading at Discovery FX: A Comprehensive Market for FX and Beyond
What Makes Forex the Heart of Discovery FX’s Market?
The Forex market serves as the central pillar of Discovery FX’s offerings, reflecting the broker’s strategic focus on currency trading. Established in 2018, Discovery FX has honed its expertise in Spot Rolling FX, capitalizing on the Forex market’s high liquidity and global reach. With a daily trading volume exceeding $6 trillion, Forex attracts traders due to its flexible trading hours and the potential for significant returns. Discovery FX positions itself uniquely within this dynamic environment, offering high leverage of up to 1:1000, which can amplify both profits and risks. The appeal of Forex trading lies in its accessibility and the diverse trading opportunities available, making it an ideal choice for both novice and experienced traders. Despite the absence of regulatory oversight, the broker aims to leverage the advantages of the Forex market to attract investors seeking to capitalize on market movements.
How Does Discovery FX Facilitate Forex Trading?
Discovery FX provides a robust trading environment through its choice of platforms, specifically MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are highly regarded in the Forex trading community. These platforms ensure a user-friendly interface, fast execution speeds, and comprehensive analytical tools that enhance trading efficiency. Traders benefit from the flexibility of two account types, the Standard and Nano Spread accounts, requiring a minimum deposit of $200. The broker’s commitment to transparency in trading costs, coupled with high leverage options, allows traders to optimize their strategies effectively. Additionally, Discovery FX offers educational resources and real-time data to support traders in making informed decisions. With its focus on facilitating a seamless trading experience, Discovery FX aims to empower users in navigating the complexities of the Forex market.
Why Opt for Discovery FX When Trading Forex?
Choosing Discovery FX for Forex trading presents several advantages for traders looking for a competitive edge. The broker’s reputation is built on its provision of high leverage and flexible account types, which appeal to a wide range of trading styles. Positive customer feedback highlights the broker’s commitment to customer support and the efficiency of its trading platforms. Personalized services, including account management, enhance the overall trading experience, making it easier for traders to navigate the Forex landscape. While the lack of regulatory oversight raises concerns, Discovery FX’s competitive pricing and high-quality support can cater to traders who are comfortable with higher risk. By combining low spreads, responsive customer service, and a range of trading tools, Discovery FX positions itself as a viable option for traders seeking to engage deeply in the Forex market.
No Regulation
Score
0 1 2 3 4 5 6 7 8 9
.
0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
/10
The WikiFX Score of this broker is reduced because of too many complaints!
Discovery FX
http://www.discovery-forex.com/ Website)
Time Machine
Rating Index
1.57
Influence
Influence
D
Influence index NO.1
Kenya 2.44
Surpassed 15.70% brokers
Biz Area Search Statistics Advertising Social Media Index
Contact
+852 3107-1208
http://www.discovery-forex.com/
Room 613A, 6/F, Ocean Centre, 5 Canton Road, Tsim Sha Tsui, Kowloon , Hong Kong
The WikiFX Score of this broker is reduced because of too many complaints!The WikiFX Score of this broker is reduced because of too many complaints!
Forex License
__
No forex trading license found. Please be aware of the risks.
Warning: Low score, please stay away!
2026-02-20
* This broker lacks valid forex regulation. Please be aware of the risk!
3
Basic Information
Registered Region
Hong Kong
Operating Period
5-10 years
Company Name
Discovery Forex Limited
Customer Service Email Address
info@discovery-forex.com
Contact Number
+85231071208
Company Website
http://www.discovery-forex.com/
mna2024 Unverified __Japan I have not yet been able to withdraw 72,000 yen of my profits, which I applied for withdrawal on November 13th, more than two months ago. Originally, this company seemed to have a habit of delaying withdrawals, and it was initially reported that it would take 5 business days for the money to arrive, but it gradually increased to 10 business days, then 30 business days (it is abnormal in itself that it takes 30 business days). I went. Until now, I have been able to withdraw money, albeit with a delay, but it has already been 30 business days since I withdrew money in November, and I have contacted them many times. The response I receive is always a standard message that says, “I’m checking with the department in charge.” Although there are few cases due to the truth being disclosed, is there anyone who has suffered similar damage? The IB called FX Selection, which introduced me to this broker, can no longer be contacted. Maybe it’s a guru. This time, I am applying for a small withdrawal of my profits, but I have deposited about 3.6 million yen here. I’m afraid that I won’t get my money back. Does anyone with knowledge of the industry have a solution? Thank you. Exposure 2024-01-19 FX3241871283 Unverified __Paraguay A scammer on Instagram sent me messages but I ignored him. Then he told me to give him 500 euros and he would give me 1000 euros. I sent him 800 euros. But it was a scam a year ago. Exposure 2021-08-19 FX3028049359 Unverified __Philippines I started to transfer some money out of my accounts in Discovery FX and got into real withdraw problems. I’m trying to get 20,000p from one of my accounts there since 22-Feb-2021. So far my so called “account manager” is giving me some vague explanation of delays in the payment systems. He called very often months ago to urge me to put more money in the broker – since end of Feb-2019 I did not heard from him – neither call nor e-mails. I’ve sent 2 e-mails to my account manager, and 1 e-mail to the funding department at Discovery FX – no response. My account is in “waiting for processing” for over 20 business days with no explanation why the bank wire transfer is not happening. I will soon contact the regulatory authorities in Cyprus and seek for legal options to get my money back. I’ve never Exposure 2021-09-09 Dreman Unverified __Peru “Discovery FX is amazing! They offer a wide range of market instruments and flexible payment methods. Super convenient and easy to use. Positive 2024-07-29 FX1495783622 Unverified __Hong Kong Love their low spreads on the Nano Spread Account and the MT5 platform is crisp and efficient. Positive 2024-06-18 Drucilla Van Burener Unverified __Philippines Discovery FX has its quirks. First off, the lack of regulation raises some serious red flags. Not being under the watchful eye of financial authorities like the SFC in Hong Kong or others is a risky game. The website is a bit vague, and there’s not much info about the trading instruments. The minimum deposit is kinda high, and I’m not feeling the limited educational resources – a bit disappointing. And what’s up with not disclosing withdrawal fees and processing times? It’s like they’re keeping you in the dark. I’m thinking twice about sticking around for the long haul. Neutral 2023-12-06 Seraphina Hawthorne Unverified __Argentina Discovery FX is where I started my trading journey, and I’ve gotta say, it’s been a solid experience. The variety of trading platforms, especially having both MT4 and MT5, gives me the flexibility I need. The high leverage of 1:1000 is a game-changer for me – I’m all about maximizing those potential returns. The spreads are decent, starting from 0.3 pips, and I appreciate the multilingual customer support – they’ve got my back. Copy trading apps are a nice touch too. It’s a good spot for those who know their way around the markets! Neutral 2023-12-05 FX1342035324 Unverified __Malaysia Trading with Discovery FX is really a torture. One needle that has pricked me is logging into my dashboard is my credentials that I enter is mostly. Although entered correctly, wrong and I have to reset my password every time which is time-consuming. That’s annoying at times. I do hope they could improve this part. Neutral 2023-03-17 FX4066036111 Unverified __Colombia I want to officially denounce this supposedly financial endeavor that is taking advantage of people like me, investment was 2,500 Mexican pesos and after that I see my dashboard and it has not been accredited, and to date neither, they scammed me and they didn’t even let me operate. Exposure 2021-10-06
9
Account
Biz Area
Website
Genealogy
Related Companies
Company Summary
Comment
Account
* Environment
—
* Currency
—
* Maximum Leverage
1:1000
* SupportedEA
__
* Minimum Deposit
US$200, JPY20,000
* Minimum Spread
—
* Depositing Method
—
* Withdrawal Method
—
* Minimum Position
0.01
* Commission
—
* Products
Spot Rolling FX, Precious Metal
* Environment
—
* Currency
—
* Maximum Leverage
1:1000
* SupportedEA
__
* Minimum Deposit
US$200, JPY20,000
* Minimum Spread
—
* Depositing Method
—
* Withdrawal Method
—
* Minimum Position
0.01
* Commission
—
* Products
Spot Rolling FX, Precious Metal
Products
Spot Rolling FX, Precious Metal
Updated： 2026-02-20
MT4/5
MT4 Servers
MT5 Servers
Average Latency (ms)/ms
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
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Details
Official Website
Biz Area
Influence D
By region
By company
* __0
* __2
* __4
* __6
* __8
* __10
Kenya KE
2.44
Japan __
Japan JP
2.43
Cooperative Company
Website
* discovery-forex.com
209.54.49.38
Server Location
United States
ICP registration
—
Most visited countries/areas
—
Domain Effective Date
—
Website
—
Company
—
Genealogy
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Discovery FX
Related Companies
DISCOVERY CAPITAL GROUP PTY LTD(Australia)
Deregistered
Australia
Registration No.667981437
Established–
Related sourcesWebsite Announcement
Company Summary
Discovery FXReview Summary
—
Founded| 2018
Registered Country/Region| Hong Kong
Regulation| Not regulated
Market Instruments| Spot Rolling FX, Precious Metals
Demo Account| ✅($10,000 in virtual fund)
Leverage| 1:1 – 1:1000
EUR/USDSpread| 1.0 – 3.0 pips
Trading Platform| MT4, MT5
Copy Trading| ✅
Min Deposit| $200
Customer Support| Tel: +852 6889 6237
Email: info@discovery-forex.com
Social media: X, Facebook and Instagram
Discovery Forex Limited founded Discovery FX in 2018 in Hong Kong. It provides two trading asset classes: Spot Rolling FX and Precious Metals. Besides, it also offers demo accounts and high leverage of 1:1000. However, it is not regulated and its minimum deposit is as high as $200.
Pros and Cons
Pros| Cons
—|—
Demo accounts offered| Not regulated
Flexible leverage ratios| Limited trading assets
MT4 and MT5 offered| High minimum deposit
Copy trading| Limited payment options
No fees for deposits and withdrawals|
Is Discovery FX Legit?
No, Discovery FX operates without regulation. Traders should be cautious because Discovery FX is not supervised by any financial authorities.
What Can I Trade on Discovery FX?
Tradable Instruments| Supported
—|—
Spot Rolling FX| ✔
Precious Metals| ✔
Commodities| ❌
Indices| ❌
Stocks| ❌
Cryptocurrencies| ❌
Bonds| ❌
Options| ❌
ETFs| ❌
Account Type/Fees
Discovery FX offers two account types: Standard and Nano spread. It also offers demo accounts.
Leverage
Discovery-FX provides flexible leverage from 1:1 to 1000:1. Note that the higher the leverage, the more profits and losses.
Leverage| Total Effective Margin
—|—
1:1 to 1:1000| USD 5 – USD 20,000 / JPY 500 – JPY 2,000,000
1:1 to 1:200| USD 20,001 ~ USD 100,000 / JPY 2,000,001 ~ JPY 10,000,000
1:1 to 1:100| USD 100,001 ~ USD 200,000 / JPY 10,000,001 ~ JPY 20,000,000
1:1 to 1:50| 200,001 USD or more / 20,000,001 JPY or more
Trading Platform
Deposit and Withdrawal
Discovery-FX supports deposits and withdrawals viabitwallet, overseas remittance and bank transfer. No fees for deposits and withdrawals.
Keywords
* 5-10 years
* Suspicious Regulatory License
* Suspicious Scope of Business
* High potential risk
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User Reviews9
All (9) Positive (2) Neutral (3) Exposure (4)
[ mna2024 3-5 years Exposure [Help] I have not been able to make a withdrawal that I applied for more than 2 months ago. I have not yet been able to withdraw 72,000 yen of my profits, which I applied for withdrawal on November 13th, more than two months ago. Originally, this company seemed to have a habit of delaying withdrawals, and it was initially reported that it would take 5 business days for the money to arrive, but it gradually increased to 10 business days, then 30 business days (it is abnormal in itself that it takes 30 business days). I went. Until now, I have been able to withdraw money, albeit with a delay, but it has already been 30 business days since I withdrew money in November, and I have contacted them many times. The response I receive is always a standard message that says, “I’m checking with the department in charge.” Although there are few cases due to the truth being disclosed, is there anyone who has suffered similar damage? The IB called FX Selection, which introduced me to this broker, can no longer be contacted. Maybe it’s a guru. This time, I am applying for a small withdrawal of my profits, but I have deposited about 3.6 million yen here. I’m afraid that I won’t get my money back. Does anyone with knowledge of the industry have a solution? Thank you. __2024-01-19 __Japan](/en/comments/detail/202401195472697360.html)
FX3241871283 3-5 years Exposure Scammer A scammer on Instagram sent me messages but I ignored him. Then he told me to give him 500 euros and he would give me 1000 euros. I sent him 800 euros. But it was a scam a year ago. __2021-08-19 __Paraguay
FX3028049359 3-5 years Exposure I just invest my own wallet into there own wallet! I started to transfer some money out of my accounts in Discovery FX and got into real withdraw problems. I’m trying to get 20,000p from one of my accounts there since 22-Feb-2021. So far my so called “account manager” is giving me some vague explanation of delays in the payment systems. He called very often months ago to urge me to put more money in the broker – since end of Feb-2019 I did not heard from him – neither call nor e-mails. I’ve sent 2 e-mails to my account manager, and 1 e-mail to the funding department at Discovery FX – no response. My account is in “waiting for processing” for over 20 business days with no explanation why the bank wire transfer is not happening. I will soon contact the regulatory authorities in Cyprus and seek for legal options to get my money back. I’ve never __2021-09-09 __Philippines
Dreman 6-10 years Positive “Discovery FX is amazing! “Discovery FX is amazing! They offer a wide range of market instruments and flexible payment methods. Super convenient and easy to use. __2024-07-29 __Peru
FX1495783622 6-10 years Positive Nano Spread Account: Low Spreads & Efficient MT5 Trading Platform Love their low spreads on the Nano Spread Account and the MT5 platform is crisp and efficient. __2024-06-18 __Hong Kong
Drucilla Van Burener 6-10 years Neutral Dubious Discovery FX: High Deposits, Sparse Education, Vague Terms Alarm Traders Discovery FX has its quirks. First off, the lack of regulation raises some serious red flags. Not being under the watchful eye of financial authorities like the SFC in Hong Kong or others is a risky game. The website is a bit vague, and there’s not much info about the trading instruments. The minimum deposit is kinda high, and I’m not feeling the limited educational resources – a bit disappointing. And what’s up with not disclosing withdrawal fees and processing times? It’s like they’re keeping you in the dark. I’m thinking twice about sticking around for the long haul. __2023-12-06 __Philippines
Seraphina Hawthorne 6-10 years Neutral Maximized Trading Potential with Discovery FX: Flexible Platforms, High Leverage, and Multilingual Support Discovery FX is where I started my trading journey, and I’ve gotta say, it’s been a solid experience. The variety of trading platforms, especially having both MT4 and MT5, gives me the flexibility I need. The high leverage of 1:1000 is a game-changer for me – I’m all about maximizing those potential returns. The spreads are decent, starting from 0.3 pips, and I appreciate the multilingual customer support – they’ve got my back. Copy trading apps are a nice touch too. It’s a good spot for those who know their way around the markets! __2023-12-05 __Argentina
FX1342035324 6-10 years Neutral Trading with Discovery FX is really a torture. One needle that has pricked me is logging into my dashboard is my credentials that I enter is mostly. Although entered correctly, wrong and I have to reset my password every time which is time-consuming. That’s annoying at times. I do hope they could improve this part. __2023-03-17 __Malaysia
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Deposits, Withdrawals, and Market Access at Discovery FX
Which Deposit Methods Are Available at Discovery FX?
Discovery FX supports deposits through various methods, including bank transfers and bitwallet options, catering to a wide range of traders. The availability of these methods may vary by region, but they generally offer convenience and speed in processing. Deposits made via these methods are typically processed without any fees, ensuring that traders can efficiently fund their accounts without additional costs. Despite the absence of specific details on instant deposit capabilities, users can expect a straightforward and secure payment processing environment. Discovery FX emphasizes the safe handling of transactions, which is crucial in maintaining user trust. While details about credit/debit card options or local payment solutions are not mentioned, the current methods available provide a solid foundation for traders looking to start their trading journey.
How Quickly Can You Withdraw Funds from Discovery FX?
Withdrawal processing times at Discovery FX can be variable, with bank transfers generally taking longer compared to e-wallet options. However, specific timelines for these methods are not disclosed, which can lead to uncertainty for users. Traders should be aware that the lack of transparency regarding withdrawal processes may impact their experience. Additionally, while there are no specified withdrawal fees, the broker does not provide clear information about limitations or identity verification requirements that might be involved. This ambiguity can lead to challenges for users seeking timely access to their funds. Therefore, it is crucial for traders to keep these factors in mind when considering withdrawals, especially given the broker’s lack of regulatory oversight.
Does Discovery FX Require a Minimum Deposit for Trading?
Yes, Discovery FX requires a minimum deposit of $200 to open an account. This minimum applies to both account types offered by the broker: the Standard account and the Nano Spread account. The requirement can pose a barrier for new traders or those with limited budgets, potentially limiting accessibility for beginners looking to enter the trading environment. While the minimum deposit aligns with industry standards, it is important for prospective traders to consider their financial situation before committing. The $200 threshold may deter some users from exploring the offerings of Discovery FX, impacting their ability to engage with the trading platform effectively.
FAQs
Discovery FX offers a variety of risk management tools designed to cater to different trader profiles. These tools include features such as stop-loss orders and take-profit orders, which help traders manage potential losses and secure profits. Additionally, the platform’s high leverage of up to 1:1000 allows traders to potentially enhance their returns, although it also increases the risk. Overall, these options enable users to implement their own risk management strategies effectively.
Discovery FX supports traders of all experience levels through its user-friendly platforms, MT4 and MT5, which are equipped with comprehensive analytical tools and resources. Novice traders can benefit from demo accounts that allow them to practice trading without financial risk, while experienced traders can utilize advanced features and high leverage options to optimize their trading strategies. This adaptability is crucial for meeting the diverse needs of the trading community.
While Discovery FX specializes in Spot Rolling FX and Precious Metals, the range of trading instruments is somewhat limited compared to other brokers. This might not meet the needs of traders looking for a broader array of assets such as commodities, indices, or cryptocurrencies. However, for those focused on FX and precious metals, the broker provides a solid trading environment with competitive features.
The minimum deposit requirement of $200 at Discovery FX serves as an entry point for traders looking to engage in the market. This threshold may be seen as a barrier for some beginners with limited budgets, yet it aligns with industry standards for many brokers. Understanding this requirement is essential for prospective traders to ensure they are adequately prepared to engage with the platform effectively.
Discovery FX emphasizes transparency by not imposing any fees for deposits and withdrawals, which is a significant advantage for traders concerned about hidden costs. However, the broker does not disclose specific details about withdrawal processing times or potential limitations, which can lead to uncertainty. Traders should remain aware of these factors when considering the overall cost structure associated with their trading activities.